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It's the Economy

ExxonMobil and Shell scored huge quarterly profits again, but even though some Democratic lawmakers issued written statements expressing outrage, with gas prices so much lower, the public isn't seething like they used to.

A Wall Street Journal analysis shows that "[m]ore than one-quarter of top corporate political donors have stepped up their giving slightly to Democrats, in an apparent effort to hedge their bets... While the percentage of new giving isn't large, it represents unexpected cash for the Democrats in a year when they have managed to stay financially competitive with, or surpass, their Republican adversaries."

The Boston Globe looks ahead at the possibility of Rep. Barney Frank (D) as House Financial Services chair, which has top Republicans on offense against Frank. "Beneath the very public sparring between Frank and Republicans, however, is evidence that the powerful industries that Frank would oversee as financial services chairman are falling over themselves to praise the 66-year-old from Newton -- perhaps mindful of the power he may soon have over them. At the same time, Frank is seeking to cast Democrats as being friendly to the banking and insurance industries."